i am bill o'reilly. remember that the spin stops here. we are definitely looking out for you. >> sean: this is a fox news alert. you're looking at the waldorf astoria hotel in new york city, where in just a few minutes both president obama and governor mitt romney will take to the stage at the annual alfred e. smith memorial dinner. do not expect a repeat of debate night here. the candidates will trade politics for laughs while they attempt to deliver their funniest one-liners, a night that's become known for its comedic tone, organized by the catholic archdiocese of the needy children in new york city. the dinner has been a required stop for politicians since the end of world war ii, and it's become a tradition for presidential candidates to attend every four years and since its inception, the gala has produced very funny, very memorable moments, like this. >> the odd thing was, she handed me a bill for $15,000. [laughter] can you imagine? sure, you know, grown man paying $15,000 for somebody to tell you what to wear. heck, $15,000 these